A Leading Global Insurer

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A Leading Global Insurer

A leading global insurance provider serving 90 million customers world wide with a portfolio size of over INR 10000 Cr.

We selected "iDeal Funds and iDeal Wealth" application from Credence Analytics after evaluating the available solutions from the market.

"iDeal Funds and iDeal Wealth" was a strong contender because of the good customer feedback we received about the company.

Rey DC Erlano, Vice President for Operations Division

First Metro Asset Management

Business Challenge:

"This Client faced a unique challenge of using different Systems for Front and Back Office. This led to data duplication / inconsistency issues. Another challenge was compliance. The Company had to meet strict reporting and controls guidelines from the regulator."

Solution:

The Client chose iDEAL Funds - being an STP solution - with seamless integration across Front, Mid and Back Office

iDEAL Funds offered off-the-shelf modules for compliance to the India Insurance regulator and NAV module for in-house NAV computations of ULIP schemes. This enabled the Client to achieve faster go-live."

Press Release

Credence Analytics has released a new whitepaper, in collaboration with IBS Intelligence (IBSI), based around the effectiveness of chat-based robo advisors. The paper charts the rise and rise of this latest technology innovation and the place it could take in a modern banking technology infrastructure.

Whitepaper

A key component of Robo advisory service models is the use of optimization algorithms, which are designed to solve investment challenges such as portfolio allocation for a specific type of investor. The outcomes derived from algorithms used by various Robo advisor will vary based on the methodologies, assumptions, tools, and data inputs used by the algorithms. The classic Mean Variance Optimization Model is the most widely accepted technique which determines expected returns and volatilities for the asset classes or securities, along with correlations among the asset classes, and then uses a complex algorithm to determine the best weightings for each risk level.

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Recent developments in technology have given chatbots more power in interpreting natural language and machine learning. Major companies like Facebook, Google, Amazon, Apple, and Microsoft are leading contributors in the development of futuristic chatbots, and are working on enabling advanced interactions between consumers and machines with commercially-viable business models. These chatbots are able to understand conversational language, retain context over a conversation, and handle complex requests, making them a viable option for implementation in critical applications such as managing wealth.

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Taxation is a way of raising income in order to defray the necessary expenses of the government. It is the inherent power of the state to demand contribution to finance all the government expenses.A tax is a financial charge imposed..